Business

UAE to create its own index and label for Corporate Social Responsibility initiatives

UAE to create its own index and label for Corporate Social Responsibility initiatives

Dubai: Four new committees will provide inputs on projects and financing for the recently created CSR UAE Fund.

A CSR (corporate social responsibility) Index will also be launched by the entity, which will track the performance of institutions and companies. There will also be a ‘CSR Label’ programme, which will be developed in tandem with UAE Chambers of Commerce, and which will benchmark participating companies on set criteria.

In a nutshell, CSR activities provide opportunities for businesses and organisations to engage directly with their communities for the greater good. 

“The country's leadership has endeavored to engrain the idea of giving back to the community in the social fabric,” said Abdulla bin Touq Al Marri, UAE Minister of Economy and Chairman of CSR UAE Fund’s Board of Trustees. “And instil responsible social behavior with regard to developmental, social and environmental issues among diverse social groups, including individuals and the public and private sectors.

“This mindful behavior is clearly reflected in the integration of the government’s efforts and the private sector’s initiatives to support development goals, upgrade society's capabilities to face various challenges, and ultimately, enhance the UAE’s competitiveness.”

Clear tasks

The four committees will advise on policies, projects, financing, and risk management, in addition to enhancing performance across all areas.